Well we have almost finish the topic that are on the book I used for some of these posts, every time arrives a bill you start to think if you have or not that amount? well, ok not so well ifyou decided to have a budget to follow you must to have a clear accountancy.
If you are single, sharing a room or living alone, or you're a couple you can have 3 situation on your final leftovere:
salary-bills= zero this means tha tyou don't have debts but you aren'nt able to save nothing
salary-bills= less , this means that you're overspending and you're in debt
salary-bills= leftovers, this means that you are in a really good way, you are able to manage your budget, save part of money and still have a leftover to spend for you!!!
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| This is and example of balance sheet, |
The third option is the best but if you are in first or second is ok, it's never to late to learn how to mamage your budget.
When I started too have a budget I didn't have a clear idea where I spent my money, my bills and receipts were not organized so first of all you need to have materials, paper, notebook, calculator, bills, bank documents, I have a notebook where I wrote every single daily purchase ( all also the single penny for a candy), then I decided to have a online bank account, this means that I go directly into bank when I need to deposit cash, usually once per month, so I can control weekly how is my bank situation.
Excel could became your best friends, you can create schedules to write all your expenses, when you write you can see at first sight the areas where you need to adjust, having in order your bills you know exactly what you must topay in that determined day.
Maybe if you need to repay a big debt, you need to find a extra work and web can help, you can ask in a cafe if they need help, say to your collegues that you are able to do baby sitting, dog sitting,house sitting in the week end. Yes it is rinounce for a while to hang out but this means extra income for you, repay quickly the debt and have also the opportunity to save.
For saving I decided to use only my salary job for my normal expenses and now that I started to look for a house, my side hustles go directly into blinded piggy bank, there are months where you can have unexpected bills and side hustle works, well I could say that save is easy, well nope, it could be hard if you don't have a clear goal to achieve in short, medium and long period, have a clear idea of what you can permits and must to follow a budget will help you to resist to temptation to spend for not essential things.
Break habits that mean waste of money: daily coffee, buy the lunch, car and more, delete cable, gym memebership, bring coffe and lunch from your home, if is possible use public trasportation, foots, bike, use library and other free or inexpensive solution.
If you're in a couple be honest, see if you're able to pay things with only one income, try to solution to achieve it, so your second income could be used for savings for important purchases (deposit for a home, unexpected bills, college for kids), but to do this is necessary decide rules to follow and be always honest with each other, but don't worry if in the first month of your budget mangement you fail, it's normal every time I changed work I need 3 months to understand how to manage perfectòy my budget and remember
God is always with you!!!
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